News

Concern at foreign takeovers

BRITAIN’s quoted businesses should be protected from takeover by foreign predators, according to a poll carried out by The Sunday Times.

The YouGov survey of 1,856 people, conducted on Thursday and Friday, shows deep disquiet at the vulnerability of UK firms.

It comes as BPB, the building- materials group, faces a £3.7 billion hostile bid from France’s Saint-Gobain, valuing the firm at 720p a share. Exel, the supply-chain group, may be taken over by Deutsche Post for £3.6 billion, or £12 a share.

The London Stock Exchange is also the subject of a bidding war, with Euronext the favourite. Last month the remnants of MG Rover were sold to China’s Nanjing Auto.

According to the poll, carried out online, 69% of people are concerned by the fact that companies like these have fallen into foreign hands or could do so soon. Only 25% said they were unconcerned by it.